Naira falls as CBN reduces dollar sales
The naira depreciated to the lowest in two weeks as investors demanded dollars after the Central Bank of Nigeria sold the least foreign currency at auctions in more than a month. The currency retreated...
View ArticlePower: 28 firms missed Afam, Kaduna bid submission deadline
A total of 28 firms that had expressed interest in the acquisition of majority stake in Afam Power Plc and Kaduna Distribution Company failed to submit their financial and technical bids at the...
View ArticleOil price: Brent slumps under $99
Brent crude dropped towards $98 per barrel on Wednesday, weighed by the prospect of sluggish fuel demand in top consumers the United States and China, upstreamonline.com reported. More bleak economic...
View ArticleLicence abuse: Bill recommends imprisonment for bank directors
Bank directors, managers and employees who abuse their operating licences risk a minimum of two-year jail term and a fine of at least N1m. The penalty is contained in a bill to repeal and re-enact the...
View ArticleNAEE to tackle energy resource management challenges
Members of the Nigerian Association for Energy Economics and other non-member experts drawn from the industry and the academics will converge on Lagos next week to discuss the challenges facing energy...
View ArticleIOSCO, CPSS begin implementation of PFMIs
International Organisation of Securities Commissions has commenced the process of monitoring the implementation of the Principles for Financial Market Infrastructures. The body said in a statement on...
View ArticleJonathan to inaugurate $1.5bn WEMPCO steel rolling mill
President Goodluck Jonathan will on Thursday (today), inaugurate a $1.5bn steel rolling mill built by the Western Metal Product Company Limited at Ibafo, Ogun State. A statement on Wednesday said the...
View ArticleOando close to buying $1.79bn ConocoPhillips’ Nigerian assets
An indigenous oil firm, Oando Plc has said it is close to securing funds to buy ConocoPhillips’ Nigerian assets. The Chief Executive, Oando, Mr. Wale Tinubu, said the company was not struggling to...
View ArticleNSE Index rises by 0.1%
Activities on the Nigerian Stock Exchange gained marginally on Wednesday to close on a positive note. At the close of trading activities, the NSE’s All-Share Index rose by 0.1 per cent or 18.30 basis...
View ArticleGTBank appoints Imomoh as chairman
The Board of Directors of Guaranty Trust Bank Plc has announced the appointment of Mr. Egbert Imomoh as the chairman of the bank. A statement by GTBank on Thursday explained that Imomoh’s appointment...
View ArticleRussian economic growth slows sharply
The pace of growth in the Russian economy, part of the once fast-moving Brics bloc of developing countries, slowed to 1.1 per cent in the first three months of 2013. The number contrasts sharply with...
View ArticleCadbury inaugurates workers’ safety policy
Cadbury Nigeria Plc has introduced a safety policy that will ensure that workers are protected from hazards within its premises. The policy tagged: ‘WorkPlayLiveSafe’ was inaugurated at the company’s...
View ArticleUK games industry faces EU tax break investigation
The United Kingdom video games trade body Tiga says it is “disappointed” that the EU has decided to probe a planned tax break. According to a British Broadcasting Corporation report, the deduction was...
View ArticleIndomie makers restate commitment to job creation
Dufil Prima Foods Plc, makers of Indomie noodles, has restated its commitment to creating jobs for the jobless and taking youths off the streets. The Head, Public Relations, DPF, Mr. Temitope Ashiwaju,...
View ArticleSenators frown on new agencies’ N21bn running cost
Senators on Thursday raised concerns over the establishment of two federal agencies with a combined annual running cost of N21bn. This followed the consideration of two bills for the establishment of...
View ArticlePrivate sector needs enabling environment to grow economy –Ogunbiyi
The Group Managing Director, Mutual Benefits Assurance Plc, Mr. Akin Ogunbiyi, speaks on challenges and way forward for the insurance sector in this interview with NIKE POPOOLA. How can insurance play...
View ArticlePenCom to open offices in five zones
The National Pension Commission is planning to open offices in five zones in the country to enhance its activities and get closer to the people. The offices, it was learnt on Thursday, would be cited...
View ArticleAmerican Air’s systems restored but problems continue
American Airlines said its computer systems were restored and flights had resumed after intermittent outages on Tuesday forced it to ground hundreds of flights in the United States, but warned of some...
View ArticleCessna maker forecasts lower jet sales in 2013
Textron cut its profit forecast and said it would sell fewer corporate jets this year as business owners defer purchases in an uncertain US economy. According to a Reuters report, shares of Cessna...
View ArticleSEC crippled by zero allocation, can’t pay salaries
The refusal of the National Assembly to approve the 2013 budgetary allocation of the Securities and Exchange Commission is taking a heavy toll on the finances of the organisation. Investigations by our...
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